Meat Extracts Market Size - By Type (Beef, Chicken, Pork, Fish), Form (Powder, Paste, Liquid, Granule), Application (Ready Meals, Soups & Broths, Sauces & Seasonings, Animal Feed), Growth Prospects, Regional Outlook & Global Forecast, 2024 – 2032

Meat Extracts Market Size

Meat Extracts Market size was valued at USD 1.89 billion in 2023 and is estimated to observe around 4.3% CAGR from 2024 to 2032, driven by various factors that cater to the changing consumer preferences and dietary habits.
 

Meat extracts, which are concentrated liquids or pastes derived from the essence of cooked meat, have found their way into a wide range of culinary applications, from enhancing the flavor of soups and sauces to being used as a nutrient-rich ingredient in processed foods. The market is witnessing innovation in terms of product diversification, with manufacturers exploring various meat sources such as beef, chicken, and pork to cater to different taste preferences. Furthermore, the rising interest in plant-based and vegetarian diets has spurred the development of meat extract alternatives from plant sources.

Meat extracts are widely used in ready-to-cook meals as flavor enhancers and to improve the overall taste and texture of the food. The growing demand for ready-to-cook meals, especially among working professionals and millennials, is driving the growth of the meat extract market. Meat extracts are a good source of protein, which is essential for a healthy diet. The rising demand for protein-rich food among consumers is also driving the growth of the market. However, the meat industry can be susceptible to supply chain disruptions due to factors like disease outbreaks, environmental issues, and regulatory changes.

COVID-19 Impact

The COVID-19 pandemic significantly impacted the meat extracts market, presenting a complex landscape of challenges and opportunities. Meat processing plants experienced disruptions due to outbreaks among workers and stringent safety measures, leading to supply chain interruptions. This, in turn, affected the availability and pricing of meat extracts. Additionally, there was growing awareness of the importance of a balanced diet and nutrition during the pandemic, prompting consumers to scrutinize the nutritional content of food products, including those containing meat extracts.

On the positive side, consumers increasingly turned to home cooking, leading to a heightened interest in flavor enhancement and culinary experimentation, where meat extracts found a place in various recipes. The clean label trend also gained traction, with consumers seeking natural and minimally processed ingredients, which presented an opportunity for meat extract manufacturers to promote their products as natural flavor enhancers.

Meat Extracts Market Trends

There is the growing consumer interest in clean label and natural ingredients. As health-consciousness continues to rise, consumers are seeking products with minimal additives and preservatives. Meat extracts, derived from real meat, are gaining favor as natural flavor enhancers, aligning with this trend. Another significant trend is the exploration of diverse meat sources. Manufacturers are expanding their offerings beyond traditional beef and chicken extracts to include options like pork, lamb, and exotic meats. This diversification caters to evolving taste preferences and cultural culinary influences, providing consumers with a broader range of flavors.

Meat Extracts Market Analysis

Based on type, the beef segment dominated around USD 690.4 million revenue in 2022. Known for their robust flavor and versatility, beef extracts are widely used in soups, gravies, and sauces, making them a staple in many kitchens and food processing operations. The rich and savory taste of beef extracts appeals to a broad range of consumers, contributing to their significant market presence.

Based on form, the powder segment accounted for 45% of the meat extracts market share in 2022. Powdered form is favored for its convenience and longer shelf life. Powdered meat extracts are easily measured and incorporated into a wide range of recipes, making them a go-to choice for home cooks and food manufacturers alike. Meat extracts in paste form also have a notable market share. These pastes offer a concentrated and rich meat flavor, making them particularly well-suited for adding depth to sauces, marinades, and gravies. The thick consistency of meat paste allows for precise control over flavor enhancement.

Based on application, the meat extracts market from ready meals segment is anticipated to show tremendous growth through 2032. As consumer lifestyles become busier and convenience-driven, the demand for flavorful and ready-to-eat meals has surged. Meat extracts play a pivotal role in enhancing the taste and quality of these convenient meal options, contributing to their significant market presence. Soups and broths represent another significant segment. Meat extracts are widely utilized in the production of broths and soups, imparting a savory depth of flavor that is often synonymous with comfort food.

North America meat extracts market size held over USD 580.4 million in 2022. The convenience food culture prevalent in North America has bolstered the use of meat extracts in ready meals and processed foods. As consumers seek flavorful and time-saving meal solutions, the incorporation of meat extracts as a flavor enhancer has become increasingly common, further solidifying their market share. The region's robust food processing industry also plays a crucial role in the industry share of meat extracts. North American food manufacturers frequently incorporate meat extracts to improve the taste and quality of their products, ranging from canned soups to frozen dinners.

Meat Extracts Market Share

Some of the major companies operating in the meat extracts industry are:

• Carnad A/S
• Givaudan
• Diana Food SAS
• Essentia Protein Solutions
• BRF SA
• International Dehydrated Foods Inc.
• Foodex Inti Ingredients
• Ajinomoto Co. Inc
• JBS S.A.
• Symrise AG
• Nikken Foods
• Haco Holding AG
• Ariake Japan Co. Ltd
• Maverick Biosciences
• Titan Biotech Ltd.

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Diana Food SAS is a French company that produces natural and clean label ingredients for food, beverage, pet food, nutraceutical, and aquaculture manufacturers. The company was founded in 1968 and is headquartered in Val-Couesnon, France. Diana Food has a global presence with over 2,000 employees and 22 production sites in 13 countries.
 

Diana Food's product portfolio includes a wide range of natural ingredients, such as fruit and vegetable extracts, meat and seafood extracts, and botanical extracts. The company also offers a variety of functional ingredients, such as natural flavors, antioxidants, and preservatives. Diana Food's ingredients are used in a variety of food and beverage products, including soups, sauces, snacks, ready-to-cook meals, and pet food.
 

Meat Extracts Industry News

GOOD Meat, a part of Eat Just, Inc., said it received approval from the USDA to sell its first chicken product made from animal cells in the U.S. It will debut with a textured chicken product, which tastes very similar to chicken breast and is made from over 99% chicken cells.
 

The meat extracts market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

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Market, By Type

• Beef
• Chicken
• Pork
• Fish
• Other

Market, By Form

• Powder
• Paste
• Liquid
• Granule

Market, By Application

• Ready Meals
• Soups & Broths
• Sauces & Seasonings
• Animal Feed
• Other

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt